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Sterling fell about 0.5% against the dollar and euro after the Bank of England kept rates at 0.1% and described current inflation as transitory. Markets had expected a more hawkish tone following the Federal Reserve's signal of earlier rate hikes.
A weaker pound and firmer dollar can make US dollar-priced feed commodities relatively cheaper for UK and European buyers while pressuring US export competitiveness, a modest influence on grain and meal pricing.
ftadviser.comSally HickeyJun 24, 2021After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
